Walgreens Boots Alliance, the largest US drugstore chain, is nearing a deal to buy smaller peer Rite Aid for more than $10 billion, people familiar with the matter said on Tuesday.
The deal would follow CVS Health Corp’s $10.1 billion acquisition of Omnicare Inc OCR.N in August. It would further consolidate the US drugstore sector and attract antitrust scrutiny.
Walgreens and Rite Aid could announce an agreement as early as Wednesday, the people said, requesting anonymity because the negotiations are confidential.
The pharmaceutical sector has been consolidating as companies look to beef up and bargain for lower drug prices from both manufacturers and the three largest US distributors.
Full content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI